The term Machine Learning (ML) was first used by Arthur Samuel, one of the pioneers of Artificial Intelligence at IBM, in 1959. The name came from researchers who observed computers recognizing patterns and developed the theory that computers could learn without being programmed to perform specific tasks. They began exploring artificial intelligence to see how capable computers were of learning from data. ML began to pick up speed in 90’s, when it separated from Artificial Intelligence and become its own unique field rooted in statistical modeling and probability theory.
A company’s Solvency Capital Requirement (SCR) is the amount of its own funds it is legally required to keep on hand so that it can be confident that even in the most extreme scenario it can cover all losses.